A House of Representatives ad hoc committee investigating the controversial Presidential Foreign Intervention Promotion Council (PFIPC) has uncovered 58 bank accounts and 12 corporate entities allegedly linked to the council’s disputed Director-General, Adeniyi Adeyemi.
The findings were contained in a preliminary report signed by the committee’s Chairman, Yusuf Gagdi, following the legislative investigation into the council’s inclusion in the 2026 Appropriation Bill despite questions over its legal status and establishment.
According to the report, initial financial investigations showed that more than 30 of the identified bank accounts were operated in the names of nine different companies, foundations and related entities, while other accounts were registered under individual names and variations associated with the organisation.
The committee, however, clarified that the discovery does not mean every account or transaction identified was illegal.
It said investigators are still reconciling beneficial ownership records, corporate registration documents and transaction histories to determine the identities of the individuals behind the accounts and establish any potential legal liability.
The panel also said its investigation uncovered no evidence of an Act of the National Assembly or an executive order formally establishing the PFIPC.
Similarly, the committee reported that it found no record showing that the Presidency officially appointed Adeyemi as the council’s Director-General.
Documents submitted by the State House further indicated that the Chief of Staff to the President, Femi Gbajabiamila, neither signed nor authorised the appointment letter presented by Adeyemi.
Instead, the documents showed that administrative measures were initiated to prompt an investigation into the activities and status of the purported council.
